The Global Insurance Week

Opinion

The Monte Carlo Rendezvous opens today with the rise of insurance-linked securities(ILS) certain to be a major talking point-Aon Benfield published its annual ILS report and there has been coverage of the subject in the wider media. The reinsurance broker also issued its Aggregate report on the performance of leading reinsurers and the RAA released the latest favourable cumulative half year results for US reinsurers.
Guy Carpenter reported on global warming's impact on the risk landscape, and an Aon Benfield report on catastrophes in August indicated that flood damage headed the list. Fitch reviewed the first half performance of US p&c insurers, and Timetric identified highlights in the Turkish and Moroccan markets. Towers Watson looked at what UK life insurers have been doing during the delay to Solvency II finalisation, and Deloitte surveyed regulatory spend across the top European insurers.
Gallagher is to acquire UK-based Giles Group, and Hub International bought again in the US. Cobalt Underwriting was officially launched, providing the London Market with an opportunity to develop in the Shariah sector, and Nexus Underwriting acquired sole ownership of Torus Executive Risks.
Munich Re is to acquire RenRe Energy Advisors, and QBE is to restructure its European division between Retail and International Markets. SCOR set out its next three-year strategic plan.
Driveway Software entered the US insurance telematics sector, offering a smartphone app and cloud analytics. Guidewire and Mitchell formed a strategic alliance, whilst GuideOne deployed Guidewire's ClaimCenter. Xchanging was in the news-Willis became the first to sign up for its defence fees collection service, and its Netsett solution won a major award. Charles Taylor moved for Knowledge Center.
There were results announced by Canopius, Helvetia, Ping An, and Vienna.